Green Charge Networks
| Company type | Private |
|---|---|
| Industry | Energy storage |
| Founded | 2009 |
| Headquarters | Santa Clara , United States |
Area served | Commercial clients |
| Products | Advanced predictive software for minimizing peak demand fees, energy storage systems |
| Owner | Engie (80% ownership as of 2016) |
Green Charge Networks LLC operates as an energy storage firm headquartered in Santa Clara, California. Established in 2009, the company specializes in developing advanced predictive software aimed at minimizing peak demand fees for commercial clients.
Projects
In July 2011, the inaugural GreenStation unit was deployed at a 7-Eleven location in New York, where it remained functional throughout Hurricane Sandy. During the intense heat wave of 2013 in New York, this system enabled the store to reduce its utility expenses by 56 percent.
By March 2014, Green Charge had secured agreements for energy storage installations totaling 1.5 MW with notable customers such as 7-Eleven, Avis, and Walgreens.
Funding
In 2011, Green Charge obtained $12 million in financing from the United States Department of Energy. Additional capital was injected in December 2013 by angel investor Richard Lowenthal, who is the founder and CTO of ChargePoint. TIP Capital contributed $10 million in March 2014 to support customer projects without requiring upfront payments. Later, in July 2014, the company raised $56 million through an investment from K Road DG.
In May 2016, Engie purchased an 80 percent ownership interest in Green Charge Networks.